A while back, we talked about knowing your audience first; market second. We showcased the different generations from Gen Alpha (ages 10 and under) all the way through Matures also known as the Greatest Generation (75+ years). One generation we touched upon was the Millennials. Millennials are between the ages of 25-40 and represent approximately 25% of the total US population. They are tech-savvy, like to use as much technology as possible, have many different social media accounts and 94% own a smartphone. Did you know there is a special segment within Millennials, called “Parennials”? “Parennials” not to be confused with perennials (those plants/flowers that bloom every spring), are also known as Millennial parents! In fact, most Gen Alpha are the children of “Parennials”.
“Parennials” make up 36M in the US with at least one child in the home. They are more tech-savvy than a non-parent Millennial. They outpace non-parent Millennials in tech use for video streaming, tablets, and voice assistants.
- 92% use Facebook vs. 88% (non-parent Milleninals)
- 86% use YouTube vs. 79% (non-parent Millennials)
- 65% use Instagram
These tech-savvy “Parennials” are also using mobile devices for shopping. Eighty-five percent use their mobile devices for in-store shopping. For moms, they are searching for coupons and the hottest deals, while dads are all about the research of a product. Dads want quality and 91% say high quality is vital when making decisions on one brand over another. As for moms, they like to take part in online and in-store flash sales (ie; Black Friday and Cyber Monday) and 57% say they have made a purchase during those events. “Parennials” do make purchases on mobile devices. Fifty-nine percent of moms say they make 50% or more of their purchases with a mobile device. As for dads, 64% have used their mobile phones to make a purchase. If they are not taking the time making purchases for their family, they certainly like to spend a lot of time with their family.
Spending quality time with family is very important whether it is co-viewing watching TV/movies or even gaming. Co-viewing was a top activity for families in 2020. According to a report published by Wild Brain Spark and nScreenMedia which surveyed over 3,000 adult participants (weekly streamers with at least one child under 12 years old), approximately two-thirds expect time they spend watching TV and or movies with their children will either remain the same or increase post-pandemic. Nearly 75% of parent-child co-viewing sessions happens several times per week, if not more. The most popular device to view content together is Smart TV 62%, Connected device 48%, tablet 39%, and mobile 33%.
But what are they watching? On top was YouTube Kids and PBS Kids with 50% of parents saying that their children use those services exclusively. Also noted, YouTube is important for parents and children with 95% saying at least one member in the family uses YouTube and 70% saying their kids are among the users. As for gaming, gaming equals family time and 46% of “Parennials” say they play video games regularly vs 41% non-parent Millennials. “Parennials” spend 3.7 hours per week gaming vs 3.3 hours per week non-parent Millennials.
It is safe to say that “Parennials” are a key segment of the population with growing families, growing needs and growing purchasing power. Understanding their behaviors allows marketers to identify key touchpoints and develop strategies that reflect their lifestyle and resonate with them. Social media, specifically Facebook and Youtube, as well as retargeting and understanding the dominance of mobile use is just part of the “Parennial” playbook.